Short Interest in NewAmsterdam Pharma (NASDAQ:NAMS) Rises By 156.4%

NewAmsterdam Pharma (NASDAQ:NAMS) saw a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 2,590,000 shares, a growth of 156.4% from the November 15th total of 1,010,000 shares. Currently, 6.0% of the company’s shares are short sold. Based on an average trading volume of 567,700 shares, the days-to-cover ratio is presently 4.6 days.

NewAmsterdam Pharma Stock Down 1.6 %

NASDAQ:NAMS opened at $24.69 on Friday. NewAmsterdam Pharma has a one year low of $9.72 and a one year high of $27.29. The firm’s fifty day moving average is $20.53 and its two-hundred day moving average is $18.72.

Analyst Ratings Changes

A number of research firms have commented on NAMS. Scotiabank upped their price target on NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, December 5th. Finally, Piper Sandler reissued an “overweight” rating and set a $37.00 price target on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, NewAmsterdam Pharma presently has an average rating of “Buy” and a consensus target price of $36.20.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $25.08, for a total value of $834,486.84. Following the sale, the insider now directly owns 11,778,760 shares in the company, valued at $295,411,300.80. The trade was a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Louise Frederika Kooij sold 45,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total value of $707,400.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,803 shares of company stock worth $1,755,307. 19.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NAMS. Frazier Life Sciences Management L.P. boosted its position in shares of NewAmsterdam Pharma by 5.1% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company’s stock worth $213,396,000 after purchasing an additional 628,251 shares during the period. Janus Henderson Group PLC raised its position in NewAmsterdam Pharma by 51.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,540,729 shares of the company’s stock valued at $25,607,000 after purchasing an additional 520,772 shares during the last quarter. Decheng Capital LLC purchased a new stake in NewAmsterdam Pharma in the 2nd quarter valued at $7,684,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in NewAmsterdam Pharma by 1,231.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock worth $3,972,000 after buying an additional 221,305 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of NewAmsterdam Pharma by 23.0% during the 2nd quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock worth $22,388,000 after purchasing an additional 217,902 shares during the period. Institutional investors and hedge funds own 89.89% of the company’s stock.

About NewAmsterdam Pharma

NewAmsterdam Pharma Company N.V., a late-stage biopharmaceutical company, develops therapies to enhance patient care in populations with metabolic disease. It is developing obicetrapib, an oral low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in various clinical trials as a monotherapy and a combination therapy with ezetimibe for lowering LDL-C for cardiovascular diseases.